Vanguard Cites Diminished Demand in Re-Opening Funds

Existing bear market conditions and reduced flows have prompted the Vanguard Group of Malvern, Pa. to re-open the Vanguard Capital Opportunity Fund and the Vanguard Primecap Fund to new investors, the company announced last week.

"In light of the current market climate and more subdued investor sentiment and activity, we believe that we can prudently re-open the two funds and remove the investment limitations for existing shareholders," said John J. Brennan, chairman and CEO of Vanguard, in a statement.